By: Mark Stern

March Newsletter

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Dear Friend   2021 record home sale numbers continued in February, as buyers purchased almost 11,000 homes, 52% more than February 2020. Prices increase almost 15% over the same time period, and the average price in the GTA is now $1,015,392 up 9.2% over just 2 months ago! Condominiums in the 416 continued to be a hot commodity as 2,167 sold, 63% more than a year ago. As I pointed out ...Read More

By: Mark Stern

February Newsletter

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February 2021   Dear Friend,   Well, I continue to be amazed at the record breaking sales  we are experiencing. Despite an extended Covid lockdown and the news that the anticipated vaccine distribution is not going as smoothly as it should, public confidence in real estate values and the desire for home ownership is at outstandingly high levels.   January’s sales of 6,928...Read More

By: Mark Stern

January Newsletter

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January 2021 Dear Friend Writer and philosopher George Santayana said, “Those who cannot remember the past are condemned to repeat it."  If you want to know why the market has been so active, (prices up 14.3% this year) and what is going to happen to Toronto real estate, let’s look at the recent past.   For the last several years Toronto has experienced a s...Read More

By: Mark Stern

December Newsletter

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December 2020,   Dear Friend,   Another record month of real estate sales for the GTA and Covid 19 had nothing to do with it! There are 5 major factors that are keeping the real estate market at record levels: 1.    Ridiculously low interest rates (1.5%) attracting new buyers into the market who can now qualify to buy. 2.    A strong economic ...Read More

By: Mark Stern

November Newsletter

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November 2020   Dear Friend   The real estate market continues its upward trend as home sales in the GTA were up again year-over-year for the fourth month in a row! Toronto Real Estate Board members sold 10,563 residential homes  in October,  up 25.1 % compared to 8,445 transactions in October 2019. Sales and new listings reached record levels for the month of October, but sale...Read More

By: Mark Stern

October Newsletter

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October 2020   Dear Friend,   A record month for the GTA! 11,083 homes sold in September, 42.3 % more than a year ago. As of the end of September, despite Covid,  sales were up 1% compared to the same period last year. Proof of the desire for home ownership in Toronto!   Here are two factors that brought many more buyers into the marketplace. The Canadian government gave out 53...Read More

By: Mark Stern

September Newsletter

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September 2020 Dear Friend, As we enter the Labour Day weekend, restaurants have opened up sidewalk patios, (and are busy), airplanes are flying, daycares are open, and parents and children are getting ready for the resumption of school!  Yes, we have new protocols, we are all wearing masks, washing our hands more frequently, social distancing, but a new state of normalcy has returned. Thi...Read More

By: Mark Stern

August Newsletter

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August 2020   Dear Friend,   All of the Covid based pent up demand for  homes exploded in July as 11,081 homes sold in Toronto , a 29.5 %  increase over July 2019 (8,555 solds) . The average home price for the year as of July 31 was $903,617, a 10.3% increase since December 31 2019. The number of homes available for sale (15,018)  was down 16% compared to July 2019, and th...Read More

By: Mark Stern

June Newsletter

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Dear Friend, The Toronto real estate market experienced a very pleasant but unexpected jump in sales last month. Toronto real estate board members reported the sale of 4,606 homes which was only down 53.7% compared to the month before where the number of sales were down 67% from April 2019. The biggest surprise came in the form of Toronto prices. Despite headline grabbing negativity about Toronto ...Read More

By: Mark Stern

May Newsletter

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Dear Friend,   April statistics are in and I must admit, I am very surprised. Toronto Real Estate Board members sold 2,975 homes through the MLS system. Each home sold has someone who purchased it, so there were a total of 5,950 transactions. Yes those numbers are down 67% compared to April 2019 but much higher than I expected, given the circumstances. The number of new homes coming on the ma...Read More